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Thursday, November 15, 2018   
Adani Ports  345.30    (4.19%)
 
Asian Paints  1312.25    (-0.58%)
 
Axis Bank  625.65    (2.11%)
 
Bajaj Auto  2671.30    (-0.39%)
 
Bharti Airtel  303.80    (0.85%)
 
Coal India  263.05    (-0.96%)
 
H D F C  1852.20    (0.75%)
 
HDFC Bank  1974.05    (0.80%)
 
Hero Motocorp  2917.20    (2.20%)
 
Hind. Unilever  1705.60    (-0.73%)
 
ICICI Bank  369.60    (0.82%)
 
IndusInd Bank  1513.80    (0.03%)
 
Infosys  656.35    (0.44%)
 
ITC  274.45    (-0.72%)
 
Kotak Mah. Ban...  1162.65    (2.93%)
 
Larsen & Toubr...  1397.35    (0.97%)
 
M & M  765.80    (-0.60%)
 
Maruti Suzuki  7482.85    (1.50%)
 
NTPC  153.90    (-2.16%)
 
O N G C  158.90    (-1.15%)
 
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St Bk of India  285.30    (0.56%)
 
Sun Pharma.Ind...  514.95    (-1.04%)
 
Tata Motors  179.95    (1.78%)
 
Tata Motors-DV...  98.40    (1.39%)
 
Tata Steel  588.65    (-0.05%)
 
TCS  1865.50    (-0.80%)
 
Vedanta  207.55    (1.64%)
 
Wipro  323.95    (-0.23%)
 
Yes Bank  206.00    (-7.42%)
 
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Mid Session Commentary
You are here : Equity | News | Mid Session Commentary
Strong market breadth
(14:24, 14 Sep 2018)

Key equity indices were trading near the day's high in mid-afternoon trade. At 14:23 IST, the barometer index, the S&P BSE Sensex, was up 325.68 points or 0.86% at 38,043.64. The Nifty 50 index was up 118.65 points or 1.04% at 11,488.55. The Sensex was trading above the psychologically important 38,000 mark.

Positive leads from Asian markets and overnight gains on the Wall Street boosted investors sentiment. Investor sentiment was also buoyed after data showed inflation eased in August, increasing the likelihood that the central bank will keep interest rates on hold in October.

Among secondary barometers, the BSE Mid-Cap index was up 1.35%. The BSE Small-Cap index was up 1.32%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1777 shares rose and 798 shares fell. A total of 165 shares were unchanged.

Cement shares were in demand. ACC (up 3.74%), Ambuja Cements (up 2.30%) and UltraTech Cement (up 1.37%), edged higher.

Grasim Industries was up 2.72%. Grasim has exposure to cement sector through its holding in UltraTech Cement.

Telecom shares rose across the board. Idea Cellular (up 6.02%), MTNL (up 2.48%), Reliance Communications (up 1.46%), Tata Teleservices (Maharashtra) (up 0.86%) and Bharti Airtel (up 0.27%), edged higher.

Telecom tower infrastructure provider Bharti Infratel was up 1.11%.

On the data front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 4.53% (provisional) for the month of August 2018 (over August 2017) as compared to 5.09% (provisional) for the previous month and 3.24% during the corresponding month of the previous year. The data was unveiled during trading hours today, 14 September 2018.

The all-India general consumer price inflation (CPI) inflation dipped 3.69% in August 2018 (new base 2012=100), compared with 4.17% in July 2018. The corresponding provisional inflation rate for rural area was 3.41% and urban area 3.99% in August 2018 as against 4.11% and 4.32% in July 2018. The core CPI inflation declined to 5.90% in August 2018 compared with 6.29% in July 2018. The data was announced after market hours on Wednesday, 12 September 2018.

India's industrial production (base year 2011-12=100) growth remained nearly flat and healthy at 6.6% in July 2018, compared with 6.9% growth recorded in June 2018. The industrial production growth for June 2018 has been revised marginally downwards from 7% increase reported provisionally. The data was announced after market hours on Wednesday, 12 September 2018.

Overseas, European stocks were trading higher Friday, after an unexpectedly sharp interest rate hike in crisis-hit Turkey supported the lira and global risk appetite. Turkey's central bank moved to support a tumbling lira on Thursday, lifting interest rates by 625 basis points to 24%.

Asia markets were trading higher. The gains, however, were tampered by enduring concerns around trade following a tweet from US President Donald Trump.

Trump said on Thursday that Washington was under no pressure to make a deal with China, they are under pressure to make a deal with us. He added that the US will soon be taking in billions in tariffs & making products at home.

Trump's response came after reports on Wednesday said the US was seeking to restart trade negotiations with China as the two economic powerhouses remain locked in conflict with no resolution in sight.

Meanwhile, China reported better-than-expected industrial output and retail sales on Friday, but a key investment gauge fell to a fresh record low. Industrial output rose 6.1% in August from a year earlier, the National Bureau of Statistics (NBS) said, a tick better than July. But production of key goods including motor vehicles and transport equipment actually fell. Output of cars barely grew, while crude steel production increased by just a third of the pace in the previous month. Retail sales rose 9% on-year. Fixed-asset investment growth slowed to 5.3% in January-August from the same period a year earlier, weighed down once again by slowing infrastructure growth.

US stocks closed higher Thursday, with the S&P 500 up for a fourth straight session on the back of strong technology shares. News that China may be receptive to overtures from the US on new talks also soothed trade-related jitters.

On the US data front, the consumer-price index rose by 0.2% in August, its fifth straight increase. Separately, initial jobless claims fell slightly in the latest week, coming in at a 49-year low.

Meanwhile, the European Central Bank (ECB) made no change on interest rates, and repeated that it does not expect any changes until summer 2019 at least as it remains on track to end its bond-buying program in December. The ECB slightly trimmed its GDP growth forecasts for both 2018 and 2019, and ECB President Mario Draghi said that risks to the euro area's growth outlook were broadly balanced.

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